A Reality Check for Companies Who Have Rated Themselves Highly on Digital Transformation
Etventure, a company that develops and support successful start-ups while accelerating their digital transformation using innovative technologies announced the release of its new study which found that 85% of large US companies rate themselves pretty highly for Digital Transformation; with some of them engaged in truly transformative processes.
Etventure along with YouGov came out with the study that was conducted keeping in mind the senior executives from companies with annual revenues of $250 million per year or greater. The survey implies that most companies are not doing as great as they claim so when it comes to Digital Transformation. On the other hand, companies that have insisted that digitization is playing a major role in their businesses are in fact implying to activities that bring only additional changes.
Some key survey points:
• Only 3% of Digital Transformation is managed by CEOs, while 81% of digital initiatives are managed by IT
• 90% companies consider their employees completely capable of handling Digital Transformation challenges
• 92% companies don’t count startups as threats to their businesses while only 13% have cooperated with startups
Lukas Bower, CEO North America at etventure said, “There is a great deal of activity in the digital space, but very little of it is truly transformational. Our findings show that Digital Transformation is still a side activity for most companies. Developing mobile apps, improving customer experience and digitizing operations are all worthwhile initiatives — but these are only incremental changes. The lack of truly transformational digital innovation is a concern, given the rapid rise of digital disruption across all industries.”